Thank God for Henry Paulson. Seriously, after two years of “strong dollar” policy—policy that saw the dollar lose some 16% of its value before this recent rally began—Henry the “Hammer” Paulson has really come into his own as a financial blunderer. Indeed, his actions of the last 18 months are much more deserving of the nickname “Hammer” than anything from his college football days—hammers are neither particularly sensitive nor precise instruments. In fact, a review of his actions throughout the financial crisis show a rapid shift towards weapons of greater and greater scope and power… none of which hit their target: stopping the financial collapse. Throughout much of 2007, Paulson asserted that the subprime problem was “contained” and that the global economy was the “strongest” he’d seen in his “business lifetime.” By the time he finally figured out things were not contained and ...